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A structured settlement factoring transaction is a means to raise liquidity where there is no other viable means, via the transfer of structured settlement payment rights, for items such as unforeseen medical expenses, the need for improved housing or transportation, education expenses and the like, or in a situation where the individual has simply spent all his or her cash.
The typical structured settlement arises and is structured as follows: An injured party (the claimant) comes to a negotiated settlement of a tort suit with the defendant (or its insurance carrier) pursuant to a settlement agreement that provides as consideration, in exchange for the claimant's securing the dismissal of the lawsuit, an agreement by the defendant (or, more commonly, its insurer ...
Peachtree Financial gives structured settlement recipients the option to receive their cash sooner, by selling their structured settlement payments. [6] These regular payments from insurance companies, often as a result of a personal injury lawsuit, can be sold in portions, or all at once.
Initially structured settlement payments rights were primarily packaged up by large buyers such as JG Wentworth, securitized and sold to institutional investors.During a period where institutional capital became less available in the immediate aftermath of the 2008-2009 financial crisis, a number of intermediaries began marketing structured settlement payment rights to investors.
J.G. Wentworth was formed by James D. Delaney and Gary Veloric in 1991 as a merchant bank specializing in transactions in the healthcare industry. [6] [7] In 1992, the company began to purchase New Jersey auto insurance deferrals from claimants who could not afford to wait twelve to eighteen months for their settlements. [8]
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